On between-subjects versus within-subjects comparisons in the study of choice behavior

Discusses issues in the use of between-Ss design in empirical studies of expected utility theory, which practice has been criticized by J. C. Hershey and P. J. Schoemaker (1980). It is suggested that the choice of experimental design should be determined by theoretical aspects (e.g., the interpretation of utility theory) and the nature of the scientific problem. Relevant psychological considerations are presented and it is concluded that, in the context of testing utility theory, a between-Ss design is often more desirable. Three different hypotheses are described and related to each other, and the appropriate design for testing each of the hypotheses is identified. The reflection effect is reanalyzed and compared with findings in Hershey and Schoemaker.